Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Parking Fees

  total $2,625,321 · related or exempt $2,625,321

Functional expenses

Part IX, the statement of functional expenses.

• 13 · Office expenses

  total $68,588 · program services $25,105 · management and general $43,483

• 16 · Occupancy

  total $102,249 · program services $102,249

• 17 · Travel

  total $3,062 · program services $3,062

• 20 · Interest

  total $48,307 · program services $48,307

• 22 · Depreciation, depletion and amortization

  total $210,182 · program services $210,182

• 23 · Insurance

  total $25,277 · program services $25,277

• 24a · Other expenses: Parking operating svcs

  total $724,846 · program services $713,169 · management and general $11,677

• 24b · Other expenses: Repairs and maintenance

  total $35,400 · program services $35,400

• 24c · Other expenses: Equipment rental

  total $10,645 · program services $10,645

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $433,159 · end of year $949,089

• 2 · Savings and temporary cash investments

  beginning of year $10,128 · end of year $438,757

• 4 · Accounts receivable

  beginning of year $8,215 · end of year $14,874

• 9 · Prepaid expenses and deferred charges

  beginning of year $18,950 · end of year $8,537

• 10a · Land, buildings and equipment: cost or other basis

  $10,430,552

• 10b · Land, buildings and equipment: accumulated depreciation

  $2,840,430

• 10c · Land, buildings and equipment, net

  beginning of year $7,265,346 · end of year $7,590,122

• 15 · Other assets

  beginning of year $3,195,543 · end of year $2,937,157

• 17 · Accounts payable and accrued expenses

  beginning of year $79,206 · end of year $57,445

• 20 · Tax-exempt bond liabilities

  beginning of year $1,713,188 · end of year $1,345,379

• 27 · Net assets without donor restrictions

  beginning of year $9,138,947 · end of year $10,535,712

The filer's explanations (Part III)

Part I, Line 3

A related organization, The Hobby Center Foundation, uses the following methods in establishing executive compensation: Compensation committee, Independent compensation consultant, Forms 990 of other organizations, compensation survey or study, and approval by the board or compensation committee.